I attended BIR Professional Tax Seminar kanina. Mas malala pa ang pahirap sa atin kumpara hassle na ginawa ng PRC, magiging four times. Dahil sa corruption and inefficiency ng gobyerno, napaka-dilim ng future ng mga Brokers. Wala tayong mapakinabangan sa gobyerno, zero, as in zero, pero sila maraming mapakinabangan sa atin. Kung meron lang akong dalang Broker PRC Card kanina, ginunting ko na sa harap nila. Hindi nila na-intindihan ang operations natin. They are applying the blanket rules as if we are Medical Doctors. Goodluck na lang sa inyong lahat. I hope I have taught you well on how to survive. I will be abandoning this profession very soon. I will be revoking all my pending and current contracts with all clients and customers, completely before the end of December.

The BIR, as a garapata, is four times the size of PhilRES. Remember, you can go to jail if you practice the regulated professions without PRC license. Remember also, with or without PRC license, you can also go to jail if you practice the profession without BIR Registration as Professional. Sa PRC, one time ka lang mag renew every 3 years. Sa BIR, kailangan mo mag report sa kanila at least mga 6-times a year, bayad ka pa rin sa BIR kahit wala ka mai-declare na earnings. Grabe ang hassle and inconvenience na ibibigay ng BIR.

Value Added Tax (VAT) - 12% if gross annual professional fees / sale of goods is P1,919,500.00 and above; or if professional opted to become a VAT-registered taxpayer.

Percentage Tax (PT) or NON-VAT – 3% on the gross, if gross annual professional fees / sale of goods is below P1,919,500.00.

D. Withholding Taxes (WT)

Withholding Tax on Compensation (WC) - if with employees.

Expanded Withholding Tax (EWT) – if with income payment subject to EWT.

E. Other applicable taxes as may be determined by BIR.

xxxxx

Note: The Professional should also register and pay the corresponding Registration Fee for each separate or distinct establishment and/or clinic/s in case of medical practitioners.

A Broker who will have various branches of place of business shall have separate BIR Registration for each branch.

xxxxx

Magka-iba ang Official Receipt sa Sales Invoice. Official Receipt (for professional fees received) or Sales Invoice for sale of goods (e.g. books) which indicate the name of the professional, TIN and registered address.

If there is anything else important that I forgot to include in this article, or if you experienced a real estate transaction that is anomalous, scam, fraudulent scheme that you want me to document and expose for others to be warned, or if you want to donate to the war chest of real estate consumer rights advocacy, please feel free to email me at JohnPetalcorin@Gmail.Com. If you want to comment about this article, there is a provision for this purpose that you can find below.Thank you so much for visiting my site. May God Bless You!

But what I'm trying to point out on your example (for your readers) is ndi 149.5k lang ang natira.

as for the foreign companies you've mentioned, i have to think of it this way, if you don't give much favor sa foreign companies, how many 100% filipino-own companies can provide us salaries that we enjoy from these foreign companies?

I think the point of John is, based on your computation the whole tax is of the 2M is 850,500 indeed, but why is it it's only being deducted from the 1M and not from the whole 2M? If this is the case, the the tax is your least worry, maybe math and logic is.